# Token Utility

[Locking](/tokenomics/usdcxd/locking-cxd-for-vlcxd.md) the CXD token for vlCXD grants access to:&#x20;

* **Fee distribution.** A portion of protocol revenue is distributed to CXD lockers.&#x20;
* **Governance.** Vote to update, change, and revise protocol system parameters.&#x20;
* **Boosted Index returns.** Holding CXD + any CortexDAO Index = increased Index APR!


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